Strategic Equity Capital has published its interim report covering the six months ended 31 December 2016 – the NAV per share and the NAV total return per share increased by 13.7% and 14.1% respectively. By contrast, the benchmark returned 18.0%. The chairman’s statement attributes the underperformance to the lack of natural resource exposure in the […]
Scottish American has reported results for the year ended 31 December 2016. Its net asset value total return (capital and income) for the year was 29.9% and the share price total return was 28.7%. The total return from the global equity market was 29.6%. A final dividend of 2.725p is recommended which will take the full […]
The board of JPMorgan Japan Smaller Companies has agreed with the manager to reduce the management fee payable on the trust. The old fee was calculated as 1% of gross assets. The new fee is 1% on the first £150m of net assets and 0.8% on any net assets above the £150m level. The new […]
UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here
In a brief statement this morning, it was announced that Stuart Widdowson had resigned as manager of Strategic Equity Capital. At the time of writing the shares are off 6%. The full text of the announcement is reproduced below. The Board of Strategic Equity Capital plc (the “Company”) announces that it has been informed by […]
Investors looking forward to a period of calm in 2017 might be disappointed, but David Prosser has the trusts experts are backing to navigate further storms. Having just been through a year of unprecedented political upheaval that sent financial markets spinning, many investors will be assuming 2017 cannot possibly be so tumultuous. The reality, however, […]
Gemfields (GEM:AIM) Announces second quarter operational update for the period ending 31 December 2016. Production at the 75% owned Kagem Mine was 4.7 million carats of emerald and beryl with an average grade of 156 carats per ton, versus the quarter ending 31 December 2015 of 8.2m carats with an average grade of 272 cpt. […]
Henderson Opportunities says its Net Asset Value total return for the year ended 31 October 2016 was 0.4%, while the UK market returned 12.2%. Its discount widened significantly over the course of the year, to stand at 17.5% at the year end. The total dividend for the year is 19.00p an increase of 5.6% on the previous year. The […]
The Board of Polar Capital Global Healthcare has announced that following initial consultation with shareholders it has been working with its advisers and its investment manager, Polar Capital, on options for the future of the company. Any such proposals would be expected to include the opportunity for shareholders to continue their exposure to the healthcare sector in […]
Dunedin Enterprise Investment Trust PLC has realised its investment in Steeper Holdings Limited the UK’s leading supplier of rehabilitation services including prosthetic, orthotic and electronic assistive devices and services. Capital and accrued interest in Steeper was valued at GBP3.9m as at 30 September 2016, the last published valuation. Total initial proceeds from the sale amounted […]
Foresight Solar Fund has completed its largest acquisition to date with the purchase of a 100% interest in a 50MW alternating current (“AC”) export capacity operational UK solar asset, representing 72MW of installed peak capacity. Shotwick solar farm, located in Flintshire, is the largest operational solar asset in the UK. It was connected to the Grid […]
Africa Opportunity has had a setback in its dispute over its investment in Shoprite. In their half yearly report for the six months ended 30 June 2016 it was reported that the arbitration proceedings between the Company and Shoprite Holdings Limited had commenced in August 2016 and it was anticipated that the arbitrator would deliver […]
BlackRock Commodities Income has posted a 51.9% return on net assets for the year ended 30 November 2016. The return to shareholders was 51.4%. Over the same period, the Euromoney Global Mining and MSCI World Energy indices increased by 85.5% and 28.8% respectively (all data in sterling terms with income reinvested). The dividend for the […]
Aberdeen Frontier Markets beat its benchmark over the second half of 2016, posting net asset value per share and share price total returns of 3.7% and 6.3%, respectively. This compared to a gain of 3.2% for the MSCI Frontier Markets Net Total Return Index. The chairman’s statement says managers in Vietnam, Argentina and Kazakhstan performed […]
ICG Longbow Senior Secured has redeployed its uninvested cash through the completion of a new GBP16.0 million loan to clients of BMO Real Estate Partners on 31 January 2017. The loan has a maturity date of April 2019 and is fully compliant with existing investment parameters as set out in the original Prospectus. The LTV of the loan […]
CC Japan Income & Growth has published its first Annual Report which reflects the period from listing on the London Stock Exchange on 15th December 2015 to 31st October 2016. As at 31st October 2016, and measured in Sterling, the share price has risen by 22.4% while the Net Asset Value has increased by 23.9% since […]
The Board of intu properties plc (‘intu’) notes the recent press speculation regarding the potential acquisition of Xanadu shopping centre in Madrid. intu confirms it has entered into an exclusivity agreement with entities of the Ivanhoé Cambridge Group to acquire the centre. The transaction would be funded from a combination of bank financing and existing […]
British Land has announced that, four months after launch, its office space at 7 Clarges Street, a 51,000 square foot prime commercial development in Mayfair, is now 83% let, having secured terms with Capula Investment Management, Quantum Pacific and Fortress Investment Group. Capula Investment Management will occupy 23,700 square foot across three floors whilst US-based […]
Wolf Minerals reported revenues from sale of tungsten concentrates at its Drakelands open-pit mine, in Devon, of A$5.4m for the quarter ended 31 December 2016. After considering spending of A$4.2m on development, A$20.7m on production and A$5.0m on finance costs, net cash used in operating activities for the quarter was A$24.6m. At the end of […]
Aberdeen Emerging has reported results for the year ended 31 October 2016. In an otherwise good year, the fund was marginally behind its benchmark. The net asset value total return for the year was 36.4%, slightly behind the total return of 37.7% from the benchmark index, the MSCI Emerging Markets Net Total Return Index (in […]
Redefine International has announced that it has sold an office block at 201 Deansgate, in Manchester, for £29.15 million. The building was originally acquired as part of the AUK Portfolio in March 2016 and Redefine International says that the sale price represents a net initial yield of 3.6% and a 14.3% premium to the last […]
Miton UK MicroCap Trust, managed by Gervais Williams (pictured), has announced its the intention to raise approximately £15m through the issue of ordinary shares, which are to be issued under the trust’s previously announced share issuance programme of up to 250m ordinary and/or c-shares. The Issue launched immediately following the announcement and the bookbuild is expected […]
CatCo Reinsurance Opportunities says its 2016 net asset value return for the ordinary shares was 8.12 percent and 7.27 percent for the C Shares, outperforming the Eurekahedge Insurance Linked Securities Advisors Index by 57 percent and 40 percent respectively. The total Side Pocket Investments (“SPI’s” – money set aside to meet potential claims) held at […]
NextEnergy Solar is pleased to announce the signing of a GBP150 million debt facility with a syndicate of lenders including Macquarie Infrastructure Debt Investment Solutions, National Australia Bank and Commonwealth Bank of Australia. The Facility provides long-term debt financing, with a maturity in 2035 that matches the regulated life of the portfolio, and comprises a mix […]
Drum Income Plus REIT has published its first set of results, covering the period from its launch (IPO 29 May 2015) through to 30 September 2016. The Group’s net asset value as at 30 September 2016 was 93.5 pence per share. The significant factors determining the return over this first period have been the costs […]
New City Energy has published results for the year ended 30 September 2016. The total return in net asset value terms was 6.3%. The total return in ordinary share price terms was 28.6%, with the share price ending the year at a discount against net asset value of 14.7%. The chairman says that the investment managers […]
HgCapital, the Manager of HgCapital Trust, has announced that it has agreed the sale of Zenith, the largest independent vehicle leasing business in the UK, to Bridgepoint in a transaction totalling £750m. HgCapital says that sale of Zenith delivers a 2.9x investment multiple and a 46% gross IRR over the investment period. HgCapital Trust will […]
Jubilee Platinum (JLP:AIM) First delivery of chromite concentrate product targeted within the next 2 weeks, after integrating the Recovery Plant into Hernic’s current operations. The tailings from the Chromite Recovery Plant forms the feed to the PGM Recovery Plant. The integration of the two circuits will commence during February 2017. The PGM benefaction plant is expected to […]
Over the year to the end of December 2016, Aberforth Smaller Companies delivered a return on net assets of 5.8%, lagging its benchmark which returned 11.1%. The discount widened and so the return to shareholders was -4.2%. They are paying dividends for the year of 27.35p, which represents an increase of 5.2% on 2015. The […]
Epiris, managers of Electra, have announced the sale of leading insurance claims service provider Davies Group to HGGC, the US based private equity firm, for GBP90 million. Electra has received proceeds of GBP45 million from the sale, an uplift of GBP2 million or 4% on the valuation of its investment in Davies at 30 September […]
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